Fintech
Spooz Acquires Prime Niobium Mining Development Property
Clearwater, Florida–(Newsfile Corp. – October 28, 2021) – SPOOZ, INC. (OTC Pink: SPZI) (“Spooz” or the “Company”) is pleased to announce that the Company has acquired a significant, highly sought after, and widely used, rare-earth mining project, fee simple absolute, located on forested land in Ontario, Canada.
Niobium, named after a Greek goddess who became a symbol mother, is a rare earth mineral widely used in industry. Niobium is the 41st element listed on the Periodic Table. Historically, niobium is used in the production of high-temperature resistant alloys and special stainless steels, as well as high strength low alloy carbon steels. Its uses include sophisticated applications in the construction, automotive, aerospace, shipbuilding and oil and gas industries, such as the construction of bridges, steel structures for buildings and pipelines.
Niobium is also used in superconducting magnets such as those used to propel trains powered by magnetic levitation (maglev), hospital magnetic resonance imaging (MRI) scanners, and even the Large Hadron Collider at CERN in Geneva. Niobium is increasingly used in mobile phone circuitry and as an additive to the glass used in camera and spectacle lenses. It is completely inert inside the human body, making it a key ingredient in hypo-allergenic jewelry and heart pacemakers.
This acquisition aligns well with the “Green Energy” oriented Spooz business plan, including, most significantly, the niobium used in steel for automobile production increases gas mileage. Niobium alloyed steel is used in wind turbines. However, the Company are also pursuing the futures market for niobium is a more immediate revenue source, which will also significantly impact the environment and green energy. New uses for niobium are emerging in product applications for lithium-ion batteries (LIBs), computers, solar panels, smart windows and more. It also aligns well with Spooz’s technology.
According to Business Insider, “Investor interest in rare earth elements (REE) has exploded as of late, and for good reason. China controls up to 97% of the world supply of REEs, which are essential for use in modern technology. Prices are soaring as China slashes export quotas and shows a willingness to use these materials as a political tool. Alarmed governments throughout the world are increasingly concerned about securing more reliable sources of critical materials for strategic and security purposes. But there are other rare minerals, outside of REEs, which are also crucial to economic and national security. Niobium, for example, is among the most critical, but has received little publicity.”
According to BusinessWire, the niobium market size was estimated at 11,434.31 metric tons in 2018 and is expected to grow to 25,878 metric tons by 2027, a CAGR (Compounded Annual Growth Rate) of 9.5% for the forecast period. As of this writing, niobium (99.8% pure) as quoted by Argus Metals International (Rotterdam) is priced at approximately $69 per kilogram, or $31.36 per pound.
This niobium mining project will be placed in a wholly-owned subsidiary of the Company. Presently the project’s management is assembling a highly experienced hands-on mining executive team to manage the everyday aspects of the project and will begin the necessary planning, metallurgic and geological work necessary to complete a Pre-feasibility study on the project as soon as the necessary capital has been secured. The Company expects to announce more details on staffing and financing in the coming weeks.
The combination of all the historical work available on this project in the past as well as the proven mining expertise the Company is assembling and the necessary capital will allow this project to move forward and build value quickly. The previous feasibility study and the niobium processing design and pilot plant gives us a strong belief that this project can provide great value to shareholders and this acquisition requires no additional dilution of its common stock.
About Spooz, Inc.
The Spooz objective is to employ its developing technology to enhance the acquisition of significant commodity assets, entities that produce commodities, and vertical service providers that support producers. Spooz will utilize its developing technology to manage commodity assets through electronic access to the exchanges upon which actual, or highly correlated commodity futures contracts, are listed and traded. Spooz’s technology provides automated algorithmic trading which management believes has the capacity to generate significant, reliable and sustainable revenue streams in other commercial sectors.
Contact Information
Contact: Paul Strickland
Telephone: 312-402-7737
Website: www.spooz.com (under construction)
Twitter: twitter.com/spoozinc
Facebook: facebook.com/spoozinc (new)
Email: pstrickland@spooz.com
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties, many of which are outside Spooz’s control. These include but are not limited to the impact of competitors’ products, services and pricing; product demand; market acceptance; new product development; reliance on key strategic alliances; the regulatory environment; fluctuations in operating results; and other risks which are detailed from time to time in the Company’s filings with the Securities and Exchange Commission and/or OTC Markets. Spooz, its former Officers and Directors disclaim any obligation to update or alter its forward-looking statements whether as a result of new information, subsequent events or otherwise.
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